Broker/Seller Relationship

Broker/Seller Relationship

Real Estate's jargon and laws can be a bit difficult to grasp for first time homebuyers and sellers. Kijner & Sons International Realty would like to help you better understand how real estate in Florida works. Today, let's start with what we commonly call the Broker/Seller relationship and what it entails.

To be enforceable, Broker/Seller relationships are contractually established verbally - if the listing agreement is less than a year - or in writting - if it is longer than one year.

A listing agreement in writing must include the following elements to be valid:1) A descritpion of the property: you can use the previous deed for a complete and thorough legal description2) An expiration date: a listing agreement cannot contain an automatic renewal provision as per Florida law3) Price and terms4) Fee or commission: the commission rate is always negotiable between the broker and the seller5) The signature of the seller

Keep in mind that if the property is owned by more than one person, but only one of the owners has signed the listing agreement, that owner is legally bound if the broker didn't know about the existence of the other owner(s). However, the broker will not be able to enforce the agreement against the owner(s) who didn't sign the listing agreement. If both owners are married and if the broker performed his/her obligations, the listing agreement is enforceable against the spouse who signed it.